Microsoft Messes Up, Sentiment Drops Hard, Stocks Mixed
Negative surprises from technology stalwarts Microsoft and Amazon ended the week long earning euphoria. Word that the revised Consumer Sentiment figure dropped hard further weighed on the market on this last trading day of the week. However, the DJIA managed to turn positive adding +23.95 to 9093.24, the Nasdaq gave back -7.64 to 1965.96 and the broad based S&P 500 advanced another +2.97 to 979.26.
Amazon
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PowerRating) – The quintessential internet retailer’s discounts did not enable it to beat estimates with the shares falling 7.86% or $7.38 to $86.49 on the news.
Chubb
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PowerRating) – The wealthy person’s home insurer climbed 6.48% or $2.76 upon raising its profit forecasts.
Fortress Investments
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PowerRating) – A one time Michael Jackson financier advanced 11.31% or 38 cents to $3.74 after announcing its acquisition plans.
RadioShack
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PowerRating) – Was upgraded to outperform by RBC Capital Markets sending shares higher by 10.23% or $1.49 to $16.06.
Oil added 89 cents to $68.12, Gold fell by $1.70 to $953.10 and the VIX fear index fell another 1.45 to 23.09.
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